Teslin River Resources Corp. Receives Multi-Year Exploration Permit for its Frasergold Project in British Columbia

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Teslin River Resources Corp. (the “Company” or “Teslin River”) is pleased to announce it has received a multi-year exploration permit from the British Columbia Ministry of Energy and Mines to conduct exploration activities on its Frasergold project. The permit covers the period April 2012 through April 2017.

As announced on November 22, 2011, Teslin River signed a definitive agreement with Eureka Resources (EUK:TSX-V) giving it the right to earn a 75% interest in Frasergold, located 100 km east of Williams Lake in the Cariboo area of central British Columbia.

“We have developed a very focused exploration program for 2012”, said Teslin River’s VP Exploration, Dr. Michael Hitch. “In addition to further drilling along the 12km strike length, we will also be testing the potential presence of a copper porphyry system in the Eureka Bowl zone, as identified in our 2011 soil sampling program.”

About Frasergold Project

The Frasergold Project, optioned from Eureka Resources Inc., is located in the Cariboo Gold Camp, situated in the historic Quesnel Trough area of central British Columbia and has a long history of continued exploration since the 1970s. A combination of quartz veins and knottedphyllites host gold mineralization containing coarse free gold and finer grained sulphide bearing gold. Previous operators identified a twelve-kilometre belt of gold mineralization on the property through drilling, soil sampling, induced polarization (“IP”) geophysical surveys and surface exploration.

A prior NI 43-101 compliant resource was completed in November, 2009 - “Report on the 2007 and 2008 Drill Programs on the Frasergold Project” prepared by K.V. Campbell and G.H. Giroux for Hawthorne Gold Corp. - of 614,000 ounces of gold Measured and Indicated and 1,225,000 ounces of gold Inferred at a cut-off of 0.30g/t gold. The prior resource is a historical estimate and a qualified person for the Company has not done sufficient work to classify the historical estimate as a current mineral resource. As a result the historical estimate is not being treated as a current mineral resource and is not to be relied upon.

Teslin has the right to earn a 51% interest in the Frasergold Project by spending $3,550,000 on the property and providing payments to Eureka totaling $200,000 over a 3 year period. An additional 24% interest (totaling 75%) can be earned by completing a feasibility study.

About Teslin River Resources Corp.

Teslin River is an exploration company with interests in Nevada and British Columbia. The Company focuses on precious metals exploration with properties currently being explored in both Nevada and British Columbia. Existing properties include the Frasergold Project and Rand properties in British Columbia and the Mustang and Morningstar properties in Nevada.

Dr Michael Hitch, P. Eng, P. Geo. is a Qualified Person pursuant to NI 43-101 and has approved the contents of this release.

ON BEHALF OF TESLIN RIVER RESOURCES CORP.

“John Icke”

John Icke,Executive Chairman and Interim President and CEO

For further information on the Company and its projects please visit our web site at: www.teslin-river.com or contact us at:

The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of any offer to buy nor will there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

You can view the Next News item:August 22nd, 2012, Eureka Resources and Teslin River amend Frasergold option agreement

You can view the Previous News item:January 16th, 2012, Teslin River Delineates Potential Copper Porphyry Mineralization in the Eureka Bowl Zone During 2011 Soil Sampling Program at the Frasergold Project